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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does savings mean?
💡 Hint: Think about what you do with your allowance.
Question 2
Easy
Why is saving money important?
💡 Hint: Consider unexpected expenses.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the definition of savings?
- Setting aside money for future use
- Spending all the money right away
- Investing all money immediately
💡 Hint: Remember, savings is about keeping some money aside!
Question 2
True or False: Willingness to save only depends on how much money you earn.
- True
- False
💡 Hint: Think about why people might want to save regardless of their income.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A family has been earning $2,500 a month and saves 20% of it. They have some unexpected medical expenses of $400 this month. How can they adjust their budget to accommodate these expenses?
💡 Hint: Think about how adjusting savings can help meet unexpected costs.
Question 2
If a family's income increases by 15% this year while their spending remains the same, how will this affect their ability to save?
💡 Hint: Consider how increased income relates to saving capacity.
Challenge and get performance evaluation